Michael Saylor on FTX fraud
From Michael Saylor Destroys Sam Bankman-Fried From FTX · · Valuetainment
“what he did was he went to himself he runs a bank called FTX he applied for a loan from himself he granted himself the line for a loan from himself well secretly applied he didn't tell anybody but he Grant they when they say well Alameda had a margin account and the margin position was slightly bigger than I thought what he means is oh yeah they pledged a few billion dollars of error token gave themselves a 10 billion dollar loan and they extracted even if he had pledged 15 billion worth of air token giving yourself a 10 billion dollar loan means that you gave yourself about a hundred X the collateral value you would have got on a regulated exchange on shore.”
On , Michael Saylor, Former Chairman at MicroStrategy, spoke about FTX fraud during Michael Saylor Destroys Sam Bankman-Fried From FTX on Valuetainment.
About Michael Saylor
Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), has stated that the traditional four-year Bitcoin cycle is "broken," arguing that price action is now driven by institutional demand rather than supply-side halving events. He has described Bitcoin as "going up forever" and predicted the asset could reach $21 million per coin in 21 years. Saylor said Strategy found a bottom for Bitcoin at $60,000 and expects a rally into a "crypto spring." He has also said the company will continue buying Bitcoin at any price level, stating he is "happy to buy at 60,000, 80,000, 120,000, 200,000, 500,000, a million, 2 million, 4 million, 8 million, 16 million." Saylor has focused on promoting Strategy's digital credit product STRC (Stretch), which he described as a "passenger jet" compared to Bitcoin's "fighter jet" and MSTR's "rocket ship." He said the product has grown from zero to $10.5 billion outstanding in 10 months and pays an 11.5% dividend. Saylor acknowledged that Strategy may sell some Bitcoin to fund STRC dividends, a departure from his previous "never sell your Bitcoin" stance, but emphasized the company would buy 10 to 20 times more Bitcoin than it sells. He stated that the company's primary key performance indicator is keeping STRC stable at par, and that Strategy's goal is to increase Bitcoin per share through a mix of equity, credit, cash, and occasional Bitcoin sales.